GBPUSD november 14th 2018 price action analysis
GBPUSD yesterday responded to BREXIT’s good news and was able to reach $ 1.3031 in trading over the past few days, with a $ 1.30 increase to the October rebound. Failure at 1.3031 could raise GBPUSD to Rand rate of $ 1.31 and resistance line drawn from peak 1.3298. Nevertheless, on the GBPUSD weekly chart, the currency pair fluctuates between the supply range of 1.3472-1.3145 and the demand area of 1.2814-1.2589. On the GBPUSD daily chart, the bullish market path is on the high of November 30, 3073. The next target is in the key resistance of 1.3217. Another note that the GBPUSD traders should pay attention to is the pattern AB = CD, which is complemented by key resistance of 1.3315.
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Price action strategy
There is no good trading opportunity at the current price level. However, if GBPUSD’s GBPUSD chart above 1.3031 is closed and collapsed in support of that rate, you can enter the GBPUSD purchase deal. However, it is advisable to refrain from trading GBPUSD today.